Economy - overview:
The Bahamas is a stable, developing nation with an economy heavily dependent on tourism and offshore banking. Tourism alone accounts for more than 60% of GDP and directly or indirectly employs 40% of the archipelago's labor force. Moderate growth in tourism receipts and a boom in construction of new hotels, resorts, and residences led to an increase of the country's GDP by an estimated 3% in 1998, 6% in 1999, and 4.5% in 2000. Manufacturing and agriculture together contribute only 10% of GDP and show little growth, despite government incentives aimed at those sectors. Overall growth prospects in the short run will depend heavily on the fortunes of the tourism sector and continued sturdy growth in the US, which accounts for the majority of tourist visitors.

NOTE: The information regarding Bahamas, The on this page is re-published from the 2001 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Bahamas, The Economy 2001 information contained here. All suggestions for corrections of any errors about Bahamas, The Economy 2001 should be addressed to the CIA.